The future of the global cryogenic equipment market looks promising with opportunities in the nitrogen, argon, oxygen, LNG, hydrogen markets. The global cryogenic equipment market is expected to reach an estimated $19 billion by 2030 with a CAGR of 5.9% from 2024 to 2030. The major drivers for this market are growing demand for technical gases in various industries, rising investments in LNG power plants, and increasing focus of the government on improvising industrial policies and regulations.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the cryogenic equipment
market by equipment (tanks, valves, vaporizers, and pumps), system type
(storage, handling, and supply), cryogen (nitrogen, argon, oxygen, LNG, and
hydrogen), end use (energy, chemicals, metallurgy, and transportation), and
region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, tanks,
valves, vaporizers, and pumps are the major segments of cryogenic equipment
market by equipment. Lucintel forecasts that tanks will remain the largest
segment over the forecast period due to growing need for maintaining gases for
multiple essential industrial processes against traditional cooling
lubricants.Within this market, LNG will remain the largest segment due to its
growing usage in various applications, such as transportation, fueling,
storage, and processing.
APAC will remain the
largest region over the forecast period due to growing demand for LNG and
stringent environmental regulations in the region.
Air Liquide, Linde,
Praxair, Messer, Chart Industries, Cryogenic Industries, IHI Corporation, Chart
Ferox, Chart Energy & Chemicals, and Howden are the major suppliers in the
cryogenic equipment market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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